Oct 2, 2014 – Bear Parade, Nickel Bulls Decimated

Note that all of the comments around here are my own opinion only.  It doesn’t represent any views of any firm I work upon.  

*****

We fell 71.8 points to close at 7,196.26. We have foreign selling worth P580M. Do you want me to continue some more? Ok.

Nickel bulls were obliterated and decimated with the primary brunt of sell off on:
#NIKL -7.27% down to close at P40.80; Net Foreign Selling/ Value Turnover in millions of pesos -166/391.

On a short term basis, the bears have already won. Any rally hence forth fron #NIKL will be resisted on the P45.00 levels until any good news.  That’s just reality.  We have to live with it.  From an uptrend making new all time highs, it’s now in a trading range.  Bulls and bears wage war and I cannot understate the importance of the P40 level.  If that gets broken, all hell goes loose from a technical standpoint as the market gets repriced to P35, your next support level.  Your initial P40 support becomes resistance on a role reversal.  We don’t know the day after tomorrow so winning traders never contemplate that they might lose.  For now, whether one holds a lot of shares or not, bears win and bulls have to think twice.  Well, that’s the tale of the tape.

Nickel Miners Drops from the Highs
NIKL 40.8 48.85 -16.5%
MARC 6.65 8.2 -18.9%
ORE 2.26 3.06 -26.1%
BKR 3.58 4.2 -14.8%
CMT 2.38 3.1 -23.2%
Nickel Miners One Day Drop
NIKL 40.8 44 -7.3%
MARC 6.65 6.83 -2.6%
ORE 2.26 2.45 -7.8%
BKR 3.58 3.7 -3.2%
CMT 2.38 2.47 -3.6%

role reversal point

#MARC – NFS of 10M/67M

*****Cross fingers but for anyone who cannot afford any further losses, trail your stops when P40 doesn’t hold.  *****

Let’s tally down the losers:  (There’s a lot of dead bodies)

Retail Flavor hasn’t been loved for some time and it gets further beating:

#RRHI and #PGOLD both suffer further losses (#RRHI breaks down, #PGOLD may make a retest of old low at P32.60 or new lows. Watch out since losers might fall through)

#RRHI -54/106 (New 7 month low, we have dead bodies so ingat anyone with this) Resistance still resides at P65

#PGOLD -60/95  (35 resistance, currently at 33.20 -4.6%)

These two are dead bodies until next November or February (until 3Q and FY14 results are out.)

Telcos become a hideout in this sell off, both are relatively unchanged:

#TEL gets +45/1050

#GLO gets -34/137

*****

All Properties Out the Door:

#MEG suffers -199/361 to close at 4.83

#ALI -51/331

#FLI -19/29

#SMPH -48/160

#VLL -52/143

#RLC -3.4/49

All Consumers Also Out The Door:

#URC -152/448

#JFC -44/84

#DNL -40/69

#EMP (+10/23) The sleepyhead is at least just parked and cemeted at the 10.98 level.

Ayalas and Sys – Taken to the Backroom:

#AC -56/179

#SM -36/210

Lonely Foreign Gainers Club on Conglomerates:

#GTCAP +17/222

#AGI +18/174

#COSCO +3/55

#LPZ +4/36

After several foreign buys, #JGS succumbs -33/104

#DMC -22/99

#AEV -29/77

There’s only Power and Gaming for the Foreign Sector:

#AP +243/584

#EDC (hardly tarnished despite some foreign selling) -10/246

#FGEN -46/143

#FPH +5.6/53

#RWM +60/102

#BLOOM +2/24

*****

Since we have blood red everywhere, the day trade #AR continue its reign, this time with P287 Value traded from yesterday’s 77M and previous day’s 11M.  Some distribution and chugging along.  Somebody rakes in a huge pot, and somebody loses a huge pot.  Don’t be the one left holding the bag.  Well if tomorrow’s another bloody day, is there any other stock?  Guess the hemorrhage isn’t over.

Have cash positions for the bounties ahead.  Congrats to any of you guys who’ve day traded #AR with a low of 60, a high of 86.  Anyone making 5 – 10 cents on that 26 cent range is already good enough.

The person with a lot of cash position will have all the bounties ahead come reversal but until then, I need to survive for another day but that’s just me so I raised significant cash.  (I was raising a lot past few days and I raised even more.)  Let’s see.

Cash is king. (well tell that to the #AR boys and girls right?  Guess for them #AR is king.  A good amount was distributed to COL already, no matter what happens -bagger already.)  In any case, ingats! 😀

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